Cotton yarn prices stable amid bearish market in south India

Cotton yarn prices were quoted at the previous levels in Mumbai. A trader from the Mumbai market told Fibre2Fashion, "Mills have a huge stock of cotton yarn. However, they are not eager to reduce prices. They hope that the prices will remain stable or may even increase after some time. Therefore, they are offering discounts on bulk purchases." 

In Mumbai, 60 count carded cotton yarn of warp and weft varieties was sold at ₹1,420-1,445 and ₹1,290-1,330 per 5 kg (excluding GST), respectively. Other prices include 60 combed warp at ₹325-330 per kg, 80 carded (weft) cotton yarn at ₹1,325-1,350 per 4.5 kg, 44/46 count carded cotton yarn (warp) at ₹254-260 per kg, 40/41 count carded cotton yarn (warp) at ₹244-248 per kg and 40/41 count combed yarn (warp) at ₹270-275 per kg, according to Fibre2Fashion's market insight tool TexPro. 

In the Tiruppur market, cotton yarn prices have remained steady since the beginning of this month. Demand from the weaving industry has been sluggish. A trader from Tiruppur told F2F, "The consumer industry has not been supportive in their purchases. After a brief increase in buying following a price revision, demand weakened once again. The weaving industry may remain cautious in purchasing raw materials until there are clear indications of improved demand from the retail sector." 

Prices in the Tiruppur market were noted as 30 count combed cotton yarn at ₹255-262 per kg (excluding GST), 34 count combed cotton yarn at ₹265-272 per kg, 40 count combed cotton yarn at ₹275-282 per kg, 30 count carded cotton yarn at ₹233-238 per kg, 34 count carded cotton yarn at ₹241-247 per kg and 40 count carded cotton yarn at ₹245-252 per kg, as per TexPro. 

In Gujarat, cotton prices fell following bearish signals from ICE cotton and reduced demand from spinning mills. Traders have observed a downward trend in ICE cotton prices over the past few days. Mills have also shown little interest in new purchases of the natural fibre. This week, cotton prices declined by ₹700-800 per candy (356 kg). Cotton traded at ₹55,500-56,000 per candy. Cotton arrival in Gujarat was comfortably within 10,000 bales of 170 kg. The nationwide arrival was estimated at 30,000-32,000 bales of 170 kg. 

Fibre2Fashion News Desk (KUL)